EU Proposes EUR600 Million In Financial Aid For Ukraine, Bosnia
BRUSSELS -(Dow Jones)- The European Commission Friday proposed lending Ukraine
up to EUR500 million and Bosnia-Herzegovina up to EUR100 million to help the
countries implement restructuring agreements reached with the International
Monetary Fund.
The loans will be financed by European Union borrowing in the financial
markets, the commission said. Ukraine and Bosnia-Herzegovina must follow
programs agreed to with the IMF to receive the full amounts.
The global economic crisis has pummeled the two countries' economies,
prompting the IMF to loan $16.5 billion to Ukraine and $1.5 billion to Bosnia-
Herzegovina as private investors have fled the countries.
The proposals must be approved by EU national governments at the European
Council.
The commission is the EU's executive arm.
-By Matthew Dalton, Dow Jones Newswires; +32 2 741 1487; matthew.dalton@
dowjones.com
(END) Dow Jones Newswires
10-30-090758ET
Copyright (c) 2009 Dow Jones & Company, Inc.
|